Where to Find the Best Deals on 22K Gold Jewelry: A Comparison of Malabar Gold, Tanishq, Joyalukkas, and Kalyan
India’s demand for gold has begun to decline as the joyous excitement of Dhanteras and Diwali fades, which has caused prices to decline in all of the country’s main cities. As of 2 p.m. on Thursday, October 24, gold futures on the Multi-Commodity Exchange (MCX) had dropped by around 1.21% over the previous week, trading at Rs 1,22,600.
Experts attribute the decline to investors’ anticipation of the conclusion of the US Federal Reserve’s impending meeting, which is scheduled for October 28–29, and global uncertainty. The pressure on domestic gold prices is probably going to continue until then.
Prices of Gold at Well-Known Jewelry Brands
Here are the pricing of the top brands—Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers, and Tanishq—as of 1:20 PM on October 24 for anybody considering purchasing 22K gold jewelry. GST and manufacturing costs are not included in these pricing.
Malabar Diamonds & Gold
On October 24, Malabar Gold & Diamonds will be selling 22K gold jewelry for Rs 11,500 per gram.
Joyalukkas
For their 22K gold jewelry, Joyalukkas has set the same price at Rs 11,500 per gram in stores in Bengaluru, Ahmedabad, Mumbai, and Delhi.
Jewelers Kalyan
The price of 22K gold at Kalyan Jewellers, which has locations in Delhi, Bengaluru, Mumbai, and Ahmedabad, is also Rs 11,500 per gram.
Tanishq
On October 24, Tanishq’s 22K gold jewelry would cost Rs 11,505 per gram, which is a little more expensive.
The Gold Rates for Various Purities at IBJA
Customers may obtain a good understanding before making a purchase by using the daily gold prices released by the Indian Bullion and Jewellers Association (IBJA) for different purities. The prices per gram as of October 24 are:
24K Fine Gold (999): 12,242 rupees
22K gold costs Rs 12,193.
20K gold costs Rs 11,214.
18K gold costs Rs 9,181.
14K gold costs Rs 7,162.
Comprehending Gold Hallmarking
The practice of evaluating and formally verifying the purity of precious metals, such as gold and silver, is known as hallmarking. It guarantees that the jewelry you purchase satisfies the necessary purity requirements. Only gold and silver goods are subject to India’s hallmarking system, which is overseen by the Bureau of Indian Standards (BIS).
How to Confirm Gold That Is Hallmarked
To verify the authenticity of your jewelry, you may go to any Assaying and Hallmarking Center (AHC) that has been approved by the BIS. For a nominal charge, these facilities analyze samples and provide an assay report attesting to the jewelry’s identity and purity.
Using the BIS Care App to Verify the Purity of Gold
Additionally, you may use the BIS Care mobile app to digitally validate your jewelry. A unique six-digit HUID (Hallmark Unique Identification) number is printed on each hallmarked gold item. Before making a purchase, customers may verify the authenticity and purity of the jewelry by entering this number in the “Verify HUID” part of the app.